# Market Assessment ## NFTs Market Size and Growth * The global NFT market was valued at **$20.44 billion** in **2022**, emphasizing its current presence and potential. * **Future Growth:** * The global NFT market is expected to grow at a **compound annual growth rate** (CAGR) of **34.2%** from **2023** to **2030**. * NFT market revenue is **expected** to reach **$1.601 billion**. * Revenue is expected to exhibit an **annual growth rate** of **18.55%** (CAGR 2023-2027) through **2023**, with total revenue expected to reach **$3.162 billion** by **2027**. * The average revenue per user in the NFT market **2023** is **$114.8**. ### Growth Drivers This growth is driven by a variety of factors, including: * Growing interest in digital art and collectibles * Cryptocurrency and blockchain technology are growing in popularity * Celebrities and other influencers increasingly adopt NFTs * Expand use cases for NFTs beyond digital collectibles, such as gaming, real estate, and event ticketing ## Discussion on CRAFT-I in The Cambodian Market. * **Partnering with Cambodian MSMEs:** CRAFT-I can partner with Cambodian MSMEs to create and sell unique NFTs. * **Partnering with Cambodian businesses and organizations:** CRAFT-I can partner with Cambodian businesses and organizations to promote its platform and reach more Cambodian MSMEs. * **Web 3.0 education for Cambodian MSMEs:** CRAFT-I can provide Cambodian MSMEs with education and training on Web 3.0 technology and how CRAFT-I platform helps them. **CRAFT-I** has the potential to revolutionize Cambodia’s SME industry. By providing Cambodian MSMEs with opportunities to reach a global audience and ensuring transparency and provenance, **CRAFT-I** can help Cambodian MSMEs earn a fair living and promote Cambodian products to the world. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://craft-i.gitbook.io/white-paper/business-related-info/market-assessment.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.